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KPMG Australia’s exit from legal services highlights competitive pressure

KPMG Australia’s decision to scrap its commercial law practice is the latest move in a shifting market as law firms strive for their own “one-stop-shop” focus.

Laurel Henning
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KPMG Australia told staff on Tuesday it will exit commercial law in a restructuring that will see it focused on tax. Shutterstock.

KPMG Australia's decision to scrap its commercial law practice highlights the challenge professional services firms face in competing with top-tier law firms.

In a statement on Tuesday, KPMG said it would restructure its legal business and "integrate" its Tax Controversy & Disputes practice into the firm's tax division.

"We will now look to further develop alliances with law firms that offer complementary services to ours rather than invest in our own commercial law business”, said Ben Travers, national managing partner of KPMG’s Tax & Legal division.

Last month, KPMG reportedly announced an initial restructure of its consulting division to employees as part of an $80 million cost cutting program. The separate legal restructure announced this week comes as other major professional services firms EY, Deloitte and PwC have also announced cuts.